Marfrig reports £18.3 million profit

Positive number comes on the heels of a £38 million loss

Marfrig has recently reported a profit of £18.3 million, just 12 months after reporting a very different £38 million loss.

Despite the "challenging conditions" faced by the food industry, says the company's financial report, Marfrig increased its sales by almost 6%, from £737.7 million in 2008 to £780.6 million in 2009. A major restructuring in 2008, which was set in motion to improve business performance and included the purchase of Northern Ireland poultry company Moy Park, helped contribute to the company's 2009 profits. Furthering the expansion, Moy Park is in the process of acquiring rival processing firm O'Kane Poultry.